Sonnet Insurance Company, a noteworthy entity in the InsurTech sector, has announced its intention to exit the auto insurance market in Alberta, effective December 13, 2024. This strategic withdrawal is rooted in the challenging business conditions that have prevented the company from achieving sustainable profitability in the region. The decision sheds light on broader trends within the automotive insurance space
Amplify Life Insurance, established in 2019 and headquartered in San Francisco, has recently secured a significant Series B funding round totaling $20 million. This new investment, led by Crosslink Capital and Anthemis, along with contributions from other notable investors such as Munich Re Ventures, Moneta Ventures, Evolution Ventures, and Greycroft, marks a critical milestone in the company’s journey. As an
The InsurTech sector is witnessing a groundbreaking development that promises to revolutionize the industry’s landscape. In a collaborative move, Hyperexponential and Send have joined forces to innovate the insurance pricing process. This strategic partnership aims to integrate Hyperexponential’s hx Renew platform with Send’s underwriting workbench, significantly improving efficiency and precision in insurance underwriting and pricing decisions. The end goal is
In the realm of commercial trucking, insurance is not merely a regulatory formality but a critical component that underpins the very safety and efficiency of the industry. High Definition Vehicle Insurance (HDVI) stands at the forefront of a revolution, capitalizing on the power of technology to transform the staid insurance landscape. By harnessing the potential of real-time telematics, HDVI is
In the competitive aerospace and defense industry, maintaining a vibrant and diverse workforce is crucial. Raytheon Technologies Corp., a major player in this sector, finds itself at the crossroads of this ethos and the law. The company has been ensnared in a class-action lawsuit, alleging that their hiring practices discriminate based on age—a claim that cuts to the core of
In a pivotal turn of events, the U.S. Supreme Court has unanimously fortified the position of corporations like Starbucks in labor dispute scenarios. This significant ruling not only reaffirms the judicial system’s ability to influence labor practices but also subtly shifts the tide towards a more stringent standard for obtaining National Labor Relations Board (NLRB) injunctions. It’s a development that
In the quest to boost operational efficiency within the insurance sector, Vertafore has stepped up with a visionary initiative named Project Impact. Aimed squarely at revolutionizing the way independent agencies handle their daily business, the project is a response to a crucial industry challenge. A recent study, the Big “I” Agency Universe Study, found that more than half of the
The specter of climate change looms large, particularly for nations in the Global South, which often bear the brunt of environmental disasters. In a move that signals a seismic shift in disaster risk management, the Insurance Development Forum (IDF), helmed by Zurich Insurance Chair Michel Liès, has forged a powerful alliance with the French Development Agency Group (AFD Group). The
The American labor landscape is witnessing pivotal changes, with the National Labor Relations Board (NLRB) at the heart of the evolving drama. As the debates intensify, the agency is under scrutiny for decisions that have significant implications for the future of labor relations in the United States. The NLRB’s actions, led by current Chair Lauren McFerran and supported by a
In the dynamic landscape of financial technologies, strategic investments can propel innovative service models into substantial market contenders. Among those making waves is Finsall, a Fin+InsureTech company whose recent bridge funding round amassed a considerable Rs 15 crore. This fresh capital, led chiefly by Unicorn India Ventures and Sea Fund, supplemented by a host of institutional investors, signifies a pivotal
In a pivotal clash of legal interpretations, former Denver Broncos linebacker Randy Gregory has initiated a lawsuit against the National Football League (NFL) and the Denver Broncos, claiming disability discrimination. This groundbreaking legal action is anchored in Gregory’s request to the league to allow him to use dronabinol, a synthetic THC formulation prescribed by his physician. Struggling with significant health
In a landmark development for workplace rights, a former Honolulu restaurant and its affiliate have settled a significant sexual harassment suit, highlighting the ongoing struggle for a harassment-free working environment. The case, centered around Aged Artisans LLC and Surfeit Group LLC, which operated as Square Barrels restaurant, together with the affiliated HR company, Altres, Inc., brought to light a disturbing
